The Hindu Business Line : Saturday, November 16, 2002

Banks to defer recovery of drought-hit farmers' loans
FARMERS in the drought-affected districts of the country will not have to repay kharif crop loans, including interest, until next year. The entire loan amounts will also be restructured and repayment deferred by a minimum of four to five ... More

FOREX

Re hits 12-month high at 48.19
THE rupee scaled a 12-month peak closing at 48.1975 per dollar on Friday on the back of Moody's announcing a review of the India's foreign currency ceiling for debt. This is closest to the level the rupee was on December 27, 2001, when it was ... More

FIIs allowed to take full forward cover
IN a move aimed at fine-tuning the exchange rate of the rupee, the Reserve Bank of India on Friday allowed foreign institutional investors (FIIs) to take forward currency cover for their entire exposure in Indian equities while simultaneously ... More

SOFTWARE

CashTech gunning for bigger pie of US market with ASP
CASHTECH Solutions, a software solutions provider for the banking and financial markets, has lined up a range of cash processing solutions for banks and plans to extend these services through ASP (Application Service Provider) model. The ... More

HOUSING FINANCE

Hudco ready to lend Rs 6,000 cr
THE Union Urban Development Minister, Mr Ananth Kumar, has said that Housing and Urban Development Corporation (Hudco) is willing to extend up to Rs 6,000 crore to viable development project proposals that the State is able to come up ... More

Bank of Punjab, PNB cut home loan rates
PUNJAB National Bank (PNB) and Bank of Punjab today announced reduction of interest rates on home loans. While PNB has reduced the rate within a range of 0.75 per cent to 1 per cent, Bank of Punjab has reduced its rates by 0.25 per cent across ... More

LIFE INSURANCE

City Union Bank to sell LIC products

LIC policy for children

CREDIT RATING

Birla Corp CP issue gets `PR1'
CREDIT Analysis and Research Ltd (CARE) has assigned a `PR1' rating to the proposed Rs 25-crore commercial paper programme of Birla Corporation Ltd. The rating, according to a press note issued by the rating agency, reflects the support of the ... More

PUBLIC SECTOR BANKS

Canara Bank tries to get out of Canfina scam shadow
TEN years after the Harshad Mehta scam took a toll on Canfina, the Canara Bank-promoted financial services outfit, the bank management is taking a re-look at the whole issue even as it waits for the court cases to reach their logical ... More

Corpn Bank in talks with others for ATM sharing
CORPORATION Bank is in talks with `few' banks to strike alliances for sharing its automated teller machines (ATMs) on a fixed fee per transaction basis, Chairman and Managing Director, Mr K. Cherian Varghese said. Corporation Bank would also ... More

Vijaya Bank rebate for loan repayment
THE public sector Vijaya Bank has begun offering a rebate of one per cent for prompt repayment of housing loans. A bank release said that to be eligible for this rebate, housing loan customers would have to repay the instalments without ... More

FOREIGN BANKS

Credit concentration of foreign banks high: RBI
THE degree of credit concentration in respect of foreign banks in India is relatively large and this is one of the reasons of high NPA ratios of smaller foreign banks, according to the RBI report on Trends and Progress in Banking for 2001-02. ... More

FINANCIAL INSTITUTIONS

FIs raised more funds externally
FINANCIAL institutions raised more funds from external sources during the year 2001-2002, on account of a softer interest rate environment. The share of external sources during 2001-2002 was 29.1 per cent as compared to 25.6 per cent in the ... More

GOVT BONDS

Moody's sets the mood in debt market
ANOTHER `crazy and euphoric' day in the Government securities market, where most players made moolah and traded volumes touched Rs 9,500 crore. G-sec prices were seen shooting up by 0.40-1.50 paise during the day across maturities on Friday. ... More

NON-PERFORMING ASSETS

Banks told to hone credit skills to contain NPAs
THE Reserve Bank of India has said that increasing provisioning of already impaired assets and close monitoring of credit at the levels of sanction, disbursement and operations should be the priority for banks in the country. Even though the ... More

CREDIT CARDS & DEBIT CARDS

Citibank launches World Money Card
AIMED predominantly at IT professionals and also leisure travellers, Citibank, in partnership with Visa, has come up with a dollar denominated pre-paid card for overseas travellers. "We plan to capture 20 per cent of the Rs 10,000-crore ... More

TRENDS

`Effective micro-finance system needed'
THE Reserve Bank of India has said it plans to put in place a `more vibrant' micro-finance delivery environment by encouraging complementary and competitive models of micro-finance. The central bank also plans to organise a series of ... More

RIDF — victim of poor credit delivery system
IN 1995-96, New Delhi drafted the Rural Infrastructure Development Fund (RIDF) to take up minor projects in the hinterland and provide employment to the poor. The RIDF and many other yojanas, enjoying firm budgetary allocations, should have ... More

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